Creat Res Ld Share Discussion Threads

[sk02457] 30/7/2013 09:55

I do find it amazing that at the time Galaxy announces the minimum rights issue is exceeded :



and BMW announce their game changing electric car:



CRHL is marked down..........................................

[acta_topup] 30/7/2013 09:24

The market makers have total power when it comes to these micro caps. One trade for £1300 at 22% below the mid price. Laughable

[rhuvaal2] 17/7/2013 09:29

Yes I quite understand

[acta_topup] 17/7/2013 07:04

its better for gxy if aus dollar gets weaker for reopening mt cattlin

[rhuvaal2] 16/7/2013 18:18

Thank you Acta_topup = an interesting read.

edit: prefer the AUD to recover a bit = meaning a world recovery is at hand

[acta_topup] 16/7/2013 16:57

Another helpful post on hotcopper via LSE:

[sniffer78] Hotcoper GXY Positive

Hi Gooru, Yes I attended today in Melbourne.. and was pleased that I did. It was run by Anthony Tse and Charles Whitfield who you can tell are people you want running the place moving forward. I went away with a much clearer picture of the company as it currently stands. However, some of the items discussed were quite sensitive and am hesitant to disclose on the forum (and I advise other who attend to do the same). Specifically some eye openers: *The structure of the board after the relisting. *The SDV outcome with KORES was discussed at length. They are taking a very sensible approach and will await the outcome (very soon) with interest. *The main financial objective now is to satisfy the bond holders. They are confident that the company will be much better placed after the raising. Lets just say that at the very least the minimum amount is pretty certain (personally I will be quite happy if they don't raise the full amount- less dilution). *The main company objective is getting Jiangsu producing 17000 t/y asap and minimising operating costs. *Selling assets will be optimised and going by what was said a share of SDV as well as James Bay will be the focus. *Mount Cattlin...if the AUD falls further they would look to re-opening in the next 12-24 months. I implore others to get to a presentation. It will certainly be a very differently run company once this has all settled. MV

[rhuvaal2] 15/7/2013 20:02

That sounds good ~ and yet Anthony See would have to be (and appear to be) highly confident to make the fund-raise a success. Until any announcement there are some chunky unknowns...... personally, expect like many, I am itching for the outcome

[acta_topup] 15/7/2013 16:50

Nice post on hotcopper. GXY management finally stepping up to the plate:

sydney investor presentation (salty74)

Forum: ASX - By Stock (Back)
Code: GXY - GALAXY RESOURCES LIMITED ( 23c | Price Chart | $140.90M | Announcements | Google GXY)
Post: 9518231 (Start of thread) Views: 204
Posted: 15/07/13 16:08 Stock Price (at time of posting): 23c Sentiment: Buy

Well,

just spent over 2 hours at the Sydney preso - I was very impressed with Anthony Tse - he took a lot of tough questions and handled himself very well. The whole gist was that he knows the money wasn't handled very well in the past and his first focus is getting on top of costs and reducing debt while at the production level concentrating only on Jiangsu - he admitted that they can't produce at $17k per annum currently - as they need around $5M to tweak the plant to ramp up at name plate levels. He said at the current pace he can confidently predict $10-12k tonnes. He knows it's a big ask for shareholders to stump up more cash - but he's confident in the company, stating he believes in the assets. He knows he's in the hot seat and he wouldn't have taken the job on if he didn't believe he could turn the company around. He said if the Koreans take up the option to go from 4% to 30% that's all well and good and they will have to back the debt for capex to completion. He said if they don't take up the option they are already in preliminary discussions with Chinese investors who may take up to 40% of SdV. Again he said Jiangsu was the main focus and SdV is around 5 years away from making money. A very important point was that he and Charles Whitfield both believe the major holders are taking up their full entitlements - so the minimum raising of $12M is all but guaranteed. They are in discussions with the convertible bond holders to either move to equity with 'a bit of love given from each side' otherwise to extend the timing further (they are up in November this year).

I really liked his focus on cutting costs and getting cash flow in - it's made me feel more confident that GXY can pull through. It won't be easy and it will take time. We shall see.

[rhuvaal2] 13/7/2013 10:38

The previous CEO had eyes bigger than his tummy ~ easy one

[kman5001] 12/7/2013 19:49

That's a very valid point personally the questions I keep asking myself is 1)how has galaxy got in so much debt??2)why is the share price so low with a state of the art brand new production plant that's almost at full production??I'm a holder waiting for the 'end game' and to be honest it's not worth me selling now anyway but the questions still remain.

[rhuvaal2] 12/7/2013 18:00

Just a little caution folks ~ I have searched the 'net for an article that (around two months' back) stated indifferent current demand for lithium oxide.... I am not being negative here, yet only our Chairman will have the fullest information to hand regarding the Chinese and the global position ref' the product. Therefore, I am expecting CRHL to take up as many shares as they possibly can = alternatively = to avoid the fund-raise altogether !! I hold Q' a lot of stock so trust he gets it right......

[acta_topup] 12/7/2013 14:23

Perth, Australia

12 July 2013

SAL DE VIDA PROJECT: OPTION UPDATE

Highlights
 Galaxy provides extension to Sal de Vida Korea Corporation option exercise notice date to 17 July 2013

 Option relates to Sal de Vida Korea Corporation increasing its equity interest in Sal de Vida Project to 30%

Galaxy Resources Ltd (ASX: GXY) ("Galaxy" or "the Company") advises that it has extended the date by which its potential partner in the Sal de Vida Lithium Brine and Potash Project ("Sal de Vida" or "the Project") can exercise its
option to vest a 30% equity interest in Galaxy Lithium (Sal de Vida) S.A., the Galaxy subsidiary that owns the Project, to 17 July 2013.

Galaxy's potential partner in the Project (KORES, LG International and GS Caltex, together known as the Sal de Vida Korea Corporation ("SDVKC") previously acquired a 4% equity interest in Galaxy Lithium (Sal de Vida) S.A. Under the terms of an Option Agreement between SDVKC and Galaxy, SDVKC has 90 days from the date of delivery of the Definitive Feasibility Study ("DFS") to decide whether to exercise its option to acquire a 30% equity interest in that company.

Galaxy delivered the DFS to SDVKC on 13 April 2013. Upon delivery of the DFS, SDVKC requested some further information, which was provided to SDVKC on 17 April 2013.

As a result, Galaxy extended the final date for a decision to 17 July 2013 to take into account the provision of further information to SDVKC. Galaxy will update the market regarding the outcome of SDVKC's decision on or before 18 July 2013.

--ENDS--

[acta_topup] 11/7/2013 16:16

Will be a major coup for the Creat Group (and us) if they can increase their holding in GXY at such a discounted level.

[acta_topup] 11/7/2013 15:26

JIANGSU JUNE PRODUCTION UPDATE
Highlights
 June lithium carbonate production increases month-on-month to 604 tonnes
 Total product sales of 548 tonnes recorded for the month
 Battery grade lithium carbonate production and sales continue to improve

Galaxy Resources Ltd (ASX: GXY) ("Galaxy" or "the Company") is pleased to advise that production at its Jiangsu Lithium Carbonate Plant ("Jiangsu" or "the Plant") in China increased month-on-month to 604 tonnes in June 2013 from 521 tonnes in May.

Lithium carbonate sales (battery and technical grade) totalled 548 tonnes in the month, slightly ahead of May's figures. Battery grade lithium carbonate production and sales also recorded increases during the month. Testing and qualification of the product is continuing with a range of battery cathode manufactures in China, which is expected to boost Galaxy's customer base in the second half of the year.

Galaxy interim Managing Director Anthony Tse said: "Production at Jiangsu has been steadily increasing following the recommencement of operations at the Plant in February 2013. We continue to ramp-up operations at the Plant, which at
current production rates, already ranks as the second largest lithium carbonate production facility in China."

The Jiangsu Plant is designed to produce 17,000 tonnes per annum of battery grade (99.5% purity) lithium carbonate.

[acta_topup] 11/7/2013 13:09

A few buys now creeping in

[theivorytower] 04/7/2013 18:45

rhuvaal2

:-)

[rhuvaal2] 04/7/2013 18:24

The Ivory Tower ~ as promised, a pause from me until body n' soul can get more of a grip.
However, from reading Galaxy's RNS of two days ago it could appear that any loose stock from the one-for-one placing later this month "may be up for grabs by existing larger holders". That is quietly omitted.... and a change from the original offering.

[rhuvaal2] 28/6/2013 12:26

Mr Ren pops up in that last chunky paragraph. He is our man @ CRHL. What will he be doing: on the Galaxy Committee, what other capacity? Think he or his deputy is on the main Board of GXY.... of which we had an initial holding of around 20%. We got diluted out but let's hope we come again if that's what Ren judges is best for CRHL

[sniffer78] 27/6/2013 08:35

Highlights ? Martin Rowley, First Quantum Minerals co-founder and former Lithium One Inc. Chairman, appointed to Special Management Committee ? Mr Rowley's appointment endorsed by major shareholders following the resignation of previous Managing Director ? Special Management Committee formed to oversee a review of the Company's current business, operations and board composition ? Board, Special Management Committee and major shareholders endorse re-launch Entitlement Issue Galaxy Resources Ltd (ASX: GXY) ("Galaxy" or "the Company") advises that it has established a Special Management Committee, as an advisory committee reporting to the Galaxy Board, consisting of interim Managing Director Anthony Tse, Non-executive Director Xiaojian Ren, Galaxy executive Charles Whitfield, and Martin Rowley. The scope of the Committee's work will focus on various strategic initiatives, including a general review of the Company's business, operations and financial structuring. Interim Managing Director, Anthony Tse said: "The establishment of a Special Management Committee and the appointment of Martin Rowley are of strategic importance during this key stage of development for the Company. Mr Rowley brings a wealth of management experience, along with a proven track record of successfully developing companies into sector leaders within their industry. As well as his role on the Special Committee, he will assist in a review of the Board structure with the objective of evaluating and identifying the optimal composition and skill set required to best serve the strategy and development of Galaxy going forward." Mr Rowley was a co-founder of TSX and LSE-listed First Quantum Minerals Ltd and is currently that company's Executive Director, Business Development. First Quantum is one of the world's largest copper production companies and the owner of the Ravensthorpe nickel project in Western Australia with a market capitalisation of approximately $9 billion. He was previously Chairman of Lithium One Inc., which was acquired by Galaxy by way of a Plan of Arrangement in July 2012. He is also non-executive Chairman and a director of Forsys Metals Corp, a TSX-listed company in the uranium sector. Mr Ren is a co-founder, Executive Director and the CEO of Creat Group. He has significant experience in the China banking and finance sector having previously served with the Agricultural Bank of China at the Jiangxi Provincial level as well as the corporate headquarters. The Creat Group was established in 1992 and has made some significant investments in leading corporations across China, including Henan Pinggao Electric (listed on the Shanghai Stock Exchange), Yantai North Andre Juice (a world leading producer of fruit juice concentrate and listed on the Hong Kong Stock Exchange), Shanghai RAAS (a leading blood products manufacturer and listed on Shenzhen Stock Exchange), as well as other manufacturing

[rhuvaal2] 26/6/2013 18:45

MM's are a bit flush with stock, lowering share price to temp buyers

[acta_topup] 26/6/2013 15:46

How has this moved - twice - with no trades???

[rhuvaal2] 23/6/2013 19:23

After Toyota's high rankings @ Le Mans 24-hour race today, demand for battery grade lithium should be given a good nudge up

[rhuvaal2] 18/6/2013 12:03

And, as previously mentioned, Creat Group has the wherewithal to pick up the whole of Galaxy via CRHL = too much to expect but one never knows !!

[acta_topup] 18/6/2013 11:56

Excellent progress

[sk02457] 18/6/2013 11:33

18 June 2013
JIANGSU MAY PRODUCTION UPDATE
Highlights
 521 tonnes of lithium carbonate produced in May
 Major power upgrade completed on site during the month
 Total product sales of 538 tonnes recorded for the month
 Battery grade lithium carbonate sales increase
Galaxy Resources Ltd (ASX: GXY) ("Galaxy" or "the Company") advises that production at its Jiangsu Lithium Carbonate
Plant ("Jiangsu" or "the Plant") in China totalled 521 tonnes in May 2013.
Production slowed slightly month-on-month due to a one week scheduled outage for the completion of a major power
upgrade on site as part of the ongoing ramp-up of the Plant.
Battery grade lithium carbonate sales increased during the month, with overall product sales (battery and technical grade)
totalling 538 tonnes.
The increase in battery grade sales is a result of the completion of stringent qualification and approvals processes by a
number of major battery cathode manufacturers in China. Galaxy expects further potential customers to complete the
approvals process in the coming months.
Galaxy's new management and the Jiangsu team have already commenced a thorough review and assessment of ways to
accelerate the ramp-up process to boost production towards the Plant's full capacity of lithium carbonate.
--